TheStreet is a financial news and financial literacy website. It is a subsidiary of the Arena Group. The company provides both free content and subscription services such as Action Alerts Plus a stock recommendation portfolio co-managed by Bob Lang and Chris Versace.
Under the direction of former chairman and CEO Thomas J. Clarke Jr., the company reported its first annual profit in 2005. Jim Cramer became chairman in October 2008 and served in that capacity until 2011.
Daryl Otte, a long-time company director, became CEO in May 2009 after the resignation of the former CEO, Thomas Clarke. Otte is the founding partner of Montefiore Partners, a venture capital investment fund management firm, and a former executive at media company Ziff Davis.
In November 2007, the company acquired BankingMyWay and RateWatch.
In 2008, the company acquired a 13% stake in Geezeo.com, a Boston-based online management tool, with an option to purchase the entire company.
In August 2007, the company acquired Corsis, including Promotions.com for $20.7 million. It was sold to management for $3.1 million in December 2009. Executives of the company were later accused of inflating revenues and paid penalties to the U.S. Securities and Exchange Commission.
In September 2012, the company acquired The Deal LLC, a media company that covers mergers and acquisitions. The site was sold in February 2019.
In August 2019, the Maven acquired the company for $16.5 million. The company also partnered with Sports Illustrated Fantasy to launch Bull Market Fantasy with Jim Cramer, a channel offering insights, analysis and tips for winning fantasy sports leagues.
In December 1999, TheStreet entered into an agreement with the Israeli newspaper publisher Haaretz, to invest $2.25 million in
exchange for a 25% stake in TheMarker, a new business news website in Hebrew and English. According to the investment agreement, TheStreet.com published selected news and articles on Israeli technology companies from the TheMarker site, and in exchange TheMarker published selected news and articles from TheStreet.com.
Following the bursting of the Dot-com bubble the investment in TheMarker was fully impaired.